What can I do with a BFC single share?

[cricketfield73]

NewClaret - I have contacted the board's admin via the sticky so hopefully you should receive my details.

[cricketfield73]

Just exploring an option or two and wondering whether AGENT_CLARET might still be interested in acquiring my one share?

[Claretprinter]

I'd be interested if not

[ClaretOfMancunia]

I am also interested in purchasing a share or two, if anyone is inclined to sell

[MT03ALG]

A friend who sadly died had 90 shares worth £1700 each (found in his house by the Executor of his Will). Half was paid out, the other half paid for a table for 8 people in the Bob Lord Trophy Room for last season and this season.

[cricketfield73]

I'd be interested if not

Claretprinter, I'll just give AGENT_CLARET a little longer to get back to me and if not I'll contact this board's admin to pass on my contact details to discuss the share with you offline.

[ClaretTony]

A friend who sadly died had 90 shares worth £1700 each (found in his house by the Executor of his Will). Half was paid out, the other half paid for a table for 8 people in the Bob Lord Trophy Room for last season and this season.

And what a shame after all he'd done for the club that half of the value had to go in credit.

[Chester Perry]

And what a shame after all he'd done for the club that half of the value had to go in credit.

I was astounded at the time that people didn't get together and challenge the club credit element - from what I have heard there was a strong likelihood that a court would have forced ALK/VSL to pay all cash to those that wanted it.

The combination of time and profit margin on club products and services made the offer intrinsically less than how it was branded, I got the usual negatives on here at the time when I pointed that out

[Big Vinny K]

I was astounded at the time that people didn't get together and challenge the club credit element - from what I have heard there was a strong likelihood that a court would have forced ALK/VSL to pay all cash to those that wanted it.

The combination of time and profit margin on club products and services made the offer intrinsically less than how it was branded, I got the usual negatives on here at the time when I pointed that out

Completely agree that there was a very good chance that the offer was questionable at best (and illegal at worst)
Really surprised someone did not legally challenge the club credit element of the offer but maybe because the offer was pretty generous even without this element holders of shares were happy to accept and not risk any revised offer being not as good ?

[Rileybobs]

Why would the offer have been illegal? Surely the club could make an offer to buy shares at whatever value and on whatever terms they deem reasonable?

[Chester Perry]

Why would the offer have been illegal? Surely the club could make an offer to buy shares at whatever value and on whatever terms they deem reasonable?

The main sale was was a cash only deal - the small shareholders should be entitled to similar is the crux of it

[Rileybobs]

The main sale was was a cash only deal - the small shareholders should be entitled to similar is the crux of it

Even if the small shareholders hold a different category of shares? Or is this not the case?

[Chester Perry]

Even if the small shareholders hold a different category of shares? Or is this not the case?

all shares in the club were and remain the same

[Rileybobs]

all shares in the club were and remain the same

That surprises me.

[Big Vinny K]

Why would the offer have been illegal? Surely the club could make an offer to buy shares at whatever value and on whatever terms they deem reasonable?

Yes they can (to an extent) re the value but when it comes to effectively offering products as part of the deal which have a subjective value (and as pointed out a reducing value too) then you are on dodgy ground.
Don’t know enough about this specific area of case law but I would be surprised if there is not some kind of previous precedent case.

You can see why they did it as commercially they would potentially benefit from the future spend of the credit by whatever margin exists on those products. A more transparent offer would have been to reduce the offer by the equivalent margin which somebody must have forecast but make it a 100% cash offer for the shares.

[IanMcL]

NewClaret - I have contacted the board's admin via the sticky so hopefully you should receive my details.

I think if you ask in a fairly reasonable manner, you could be on the bench, on Saturday.

[cricketfield73]

FAO NewClaret - I have sent you an email.

[Spike]

And what a shame after all he'd done for the club that half of the value had to go in credit.

Just another way of spreading debts over a number of years .

[dsr]

Why would the offer have been illegal? Surely the club could make an offer to buy shares at whatever value and on whatever terms they deem reasonable?

No. If the club has paid £x to the majority shareholders, and they also want to buy the minority shareholders' shares, they are supposed to offer the same price because otherwise it would risk being a fraud on the minority. There are various legal protections for minority shareholders to stop the majority grabbing all the value. (Not necessarily cheap to put into effect, though.)

For my own part, the club credit was fine because I used it for 2 years' x 2 tickets Longside Lounge. My mother can't manage sitting outside any more, too cold in winter, so a "free" inside seat was a good deal.

[dougcollins]

What can I do with a BFC single share?

Half time coffee and a twix?

Oh ok then, just the coffee.